The Australian dollar (AUD) is expected to be negotiated in a range of 0.6550/0.6595 against the US dollar (USD). In the long term, if the Aud breaks clearly above 0.6595, it could trigger an additional increase towards 0.6620, the FX analysts of UOB Group point out, to be Leang and Peter Chia.
Above 0.6595, the AU could rise to 0.6620
24 -hour view: “We expected the AU to prove 0.6595 two days ago. After the audience rose to a maximum of 0.6590, we indicated yesterday that ‘it could still try 0.6595, but given the decreasing momentum, a sustained increase above this level is unlikely.’ Our expectations did not materialize, since the AUD was negotiated in a range of 0.6544/0.6588, largely closing without changes in 0.6585 (+0.05%).
Vista 1-3 weeks: “In our most recent narrative two days ago (July 1, for 0.6575), we emphasize that ‘if the AUD clearly breaks over 0.6595, could trigger an additional increase towards 0.6620.’ Since then, the Aud has negotiated just below the level of 0.6595, and we continue to maintain the same opinion.
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
